NEW YORK, Sept. 19, 2011 /PRNewswire/ -- Midas Medici Group Holdings, Inc. ("Midas") (OTCBB: MMED), an innovative green IT company in the fields of virtualization, cloud computing and data management, as well as Smart Grid solutions, today announced the release of an in-depth research report update by Patrick Murphy, CFA, principal of fee-based, third-party research firm Murphy Analytics.
In his report, Mr. Murphy discusses Midas Medici, its unique position at the intersection of energy and technology, and initiates coverage with a 12-month price target of $10.00 per share.
"With our recent acquisition, Midas Medici is addressing the increasing demand for IT services, cloud computing and virtualization through our expanding operations across Brazil, the United States and around the world," stated Nana Baffour, CEO and Co-Founder of Midas. "This comprehensive report provides investors with an excellent overview of Midas Medici's unique strengths: from our strategic clients and relationships in Brazil, our comprehensive understanding of the energy and technology sectors, as well as our significant potential for expansion through further accretive acquisitions."
From the Murphy Analytics Research Report, Mr. Murphy states:"While organic revenue growth and margin improvement helped Midas continue the positive trend towards profitability, the acquisition of CIMCORP illustrates the magnitude of the opportunity for the Company's acquisition strategy. CIMCORP greatly expands the Company's reach into South America and provides Midas with access to an IT market where industry titans such as IBM, CISCO and others are enjoying double digit growth that far exceeds the growth experienced in markets such as North America and Europe." The report details the significant growth projected in cloud computing, data centers and virtualization in Brazil, which is one of the fastest growing BRIC countries in terms of IT technology, and how this IT infrastructure spending is being further compounded by the country's preparations for the World Cup in 2014 and Olympics in 2016. Murphy Analytics also explains how Midas Medici is attempting to translate this growth into future results utilizing its unique specialized services and cross-border revenue opportunities. The complete report is available in Acrobat format, free of charge: